Bipartisan legislation has been introduced in both the House of Representatives and the Senate that would require annual estimates of how participants' savings would translate into monthly income in retirement.
In the House, Reps. Luke Messer, R-Indiana, Dave Reichert, R-Washington, Mark Pocan, D-Wisconsin, and Ron Kind, D-Wisconsin introduced the Lifetime Income Disclosure Act.
Sens. Chris Murphy, D-Connecticut, and Sen. Jonny Isakson, R-Georgia introduced companion legislation in the Senate.
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